The Nordic startup and venture capital ecosystem once again proved its resilience in 2022, with $11.7B raised. While overall funding levels saw a 36% drop from the all-time high in 2021, the region's funding levels were more than 50% higher than in 2020.
Alongside renowned Spotify, Polestar, Klarna, and Supercell, the Nordics have now created 78 unicorns and $1B+ exits. 10 of those were added in 2022. The Nordics also continue to be an impact-focused ecosystem, with over a third of all venture capital funding going to impact startups.
The region is still punching well above its weight. But how?
ps: get a deeper dive into Oslo's specifics with Menon Economics' report, based on Dealroom data 😉
But also...
UK tech sector retains #1 spot in Europe
UK startups raised $30B, the second-best year on record. And 72% higher than the 2020 total. Investment activity in the UK is double that of the next biggest European market, however, European neighbors are closing the gap.
After Austin, Atlanta, and Miami is Pittsburgh the next big thing?
Tech Crunch seems to think so. According to them, The Steel City has all the ingredients to be the next hub for startups: good universities, a cheaper cost of living, and a plethora of seed firms and startup accelerators. Moreover, Pittsburgh ranked 45th Science Hub on the global stage in Dealroom's latest ecosystem benchmarking, Last but not least Pittsburgh is the birthplace of Artificial Intelligence. The city's AI expertise transcends to the field of tech, and especially robotics, in new and exciting ways.
South by Southwest (SXSW) celebrates the convergence of tech, film, music, education, and culture. Save the date for 2023!
🇦🇺 May 1-4 , Melbourne, Australia
4,000 entrepreneurs, investors and policymakers from 200 nations, 3 days, with one mission. All converge to GEC Melbourne next year.
🇨🇦 June 26-29, Toronto, Canada
Pre-register for Collision Toronto. Inc. Magazine sums it up: “Expect game-changing speakers, dynamic content, and great opportunities to network and connect with others.”
